INVESTITSIYA LOYIHALARINING IQTISODIY MOHIYATI, TARKIBI VA AKSIYADORLIK JAMIYATLARINING NAZARIY ASOSLARI, ECONOMIC ESSENCE AND STRUCTURE OF INVESTMENT PROJECTS AND THE THEORETICAL FOUNDATIONS OF JOINT-STOCK COMPANIES, ЭКОНОМИЧЕСКАЯ СУЩНОСТЬ И СТРУКТУРА ИНВЕСТИЦИОННЫХ ПРОЕКТОВ И ТЕОРЕТИЧЕСКИЕ ОСНОВЫ АКЦИОНЕРНЫХ ОБЩЕСТВ

<jats:p>This article examines the economic essence of investment projects, their structural elements and life cycle, as well as the theoretical and methodological foundations of joint-stock companies. The investment project is interpreted as a system of «objective — resources — time — outcome», and its structure comprising the target, resource, organisational-legal, financial, and risk-and-control blocks is substantiated. The joint-stock company is analysed as an institutional mechanism that converts dispersed savings into large-scale capital, drawing on corporate finance theory, agency theory, and corporate governance theory. Based on the 2025 data of the National Statistics Committee of the Republic of Uzbekistan, the structure of investments in fixed capital by financing source is assessed, revealing the limited role of the domestic capital market in financing investment projects. Recommendations aimed at enhancing the investment potential of joint-stock companies are formulated.</jats:p>